Synaptics Incorporated (NASDAQ:SYNA) Expected to Announce Quarterly Sales of $396.35 Million
Wall Street brokerages forecast that Synaptics Incorporated (NASDAQ:SYNA) will announce $396.35 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Synaptics’ earnings, with estimates ranging from $383.05 million to $403.90 million. Synaptics posted sales of $386.20 million in the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Synaptics will report full year sales of $396.35 million for the current financial year, with estimates ranging from $1.70 billion to $1.79 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.84 billion per share, with estimates ranging from $1.81 billion to $1.86 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Synaptics.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. The business had revenue of $426.50 million during the quarter, compared to the consensus estimate of $426.49 million. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share.
A number of research analysts have recently commented on the stock. BidaskClub lowered shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Oppenheimer Holdings, Inc. reaffirmed an “underperform” rating and set a $45.00 price objective (down previously from $48.00) on shares of Synaptics in a research report on Monday, July 17th. Vetr lowered shares of Synaptics from a “hold” rating to a “sell” rating and set a $57.50 price objective for the company. in a research report on Wednesday, June 7th. BMO Capital Markets reaffirmed a “hold” rating and set a $56.00 price objective on shares of Synaptics in a research report on Thursday, July 20th. Finally, Craig Hallum raised shares of Synaptics from a “hold” rating to a “buy” rating and lowered their target price for the company from $62.00 to $55.00 in a research note on Friday, August 4th. Seven investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.43.
In other Synaptics news, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $55.61, for a total transaction of $556,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $55.92, for a total transaction of $524,250.00. Following the sale, the director now directly owns 16,166 shares in the company, valued at $904,002.72. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. TrimTabs Asset Management LLC boosted its stake in shares of Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock valued at $103,000 after buying an additional 976 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of Synaptics during the first quarter valued at $104,000. Edge Wealth Management LLC boosted its stake in shares of Synaptics by 1,451.0% in the first quarter. Edge Wealth Management LLC now owns 2,218 shares of the software maker’s stock valued at $110,000 after buying an additional 2,075 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Synaptics by 95.0% in the second quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock valued at $141,000 after buying an additional 1,330 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of Synaptics by 17.9% in the second quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock valued at $143,000 after buying an additional 421 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Synaptics (NASDAQ SYNA) traded down 5.38% during trading on Thursday, reaching $40.27. The company’s stock had a trading volume of 1,994,530 shares. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 29.39 and a beta of 1.13. The company’s 50-day moving average price is $52.85 and its 200 day moving average price is $53.67. Synaptics has a 1-year low of $40.01 and a 1-year high of $69.45.
Synaptics Company Profile
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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